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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who wrote (574)	12/6/1998 1:03:00 PM
From: Doug R	Read Replies (2) of 99985

LG, In my post concerning the market out to the end of December I left out a few specifics. In regard to the SMI set up to give a bit of a nasty signal, the probability that a 300 pt. down day for tomorrow could occur is rather high. As far as your observation that the 9000 level is a psychological pivot, I believe that this activity derives from the fear/greed associated with 10,000. Each time the Dow has broken through a thousand barrier, the next thousand barrier was implicitly implied. In that conquering the 9000 level would imply a move over 10,000, it's quite understandable that there would be some impressive volatility associated with 9K. Doug R

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